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Wheatley Grp Cap (60RZ)

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Thursday 24 September, 2020

Wheatley Grp Cap

Annual Financial Report

RNS Number : 0648A
Wheatley Group Capital PLC
24 September 2020
 

Wheatley Group Capital PLC

213800H5Z7A5G7ZS2U33

Annual Report and Financial Statements for the year ended 31 March 2020 of Wheatley Housing Group Ltd

Our Financial Statements and the accompanying ESG report for the year ended 31 March 2020 are now available online on our website: https://www.wheatley-group.com/investor-relations

· We completed our strategic partnership with Dumfries & Galloway Housing Partnership, 'DGHP' - Scotland's second largest social landlord with 10,300 properties

· Turnover increased 7% to £357.1m (an increase of £23.5m, of which £14.5m is attributable to DGHP)

· EBITDA increased 14% to £120.0m (an increase of £14.9m, of which £6.3m is attributable to DGHP), continuing a 5-year period of growth

· We continue to deliver efficiencies whilst maintaining customer excellence, with the social housing operating cost per unit reducing from £3,828 to £3,656 since 2016, with the majority of our RSLs exceeding 90% on customer satisfaction from tenants

· The Group retained its A+ Stable Long-Term S&P rating in May 2020

· Net Assets increased by £294.9m to £1,140.8m with £240.9m of the growth attributable to DGHP

· Debt levels measured by Debt Per Unit were sustainable at £23,030 (2019: £21,520) and gearing at 55% (2019: 56%).

· The Group maintains a strong liquidity position, with £345.6m of available, undrawn facilities and £116.4m in cash at year-end

 

A copy of the above document has also been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk

For further information, please contact:

Wheatley Group Capital plc

Steven Henderson

Group Director of Finance

Wheatley House

25 Cochrane Street

Glasgow G1 1HL

Telephone : 0141 274 6287

Fax : 0141 274 5764

Email : [email protected]

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